Stock Market Mid-Day Report, July 17, 2026: Sensex Jumps 815 points, Nifty Up 205 points at Noon, Sidestep Global Selloff

Mumbai: July 17: Indian benchmark indices rose further at noon on Friday, shrugging off a dismal session across global markets as investors turned their attention from the escalating Iran-US tensions to a strong start to earnings season in June-quarter. 

The BSE Sensex was up 815.65 points or 1.06 percent at 78,002.52, and the Nifty 50 added 205.95 points or 0.86 percent to 24,278.70 as of 12:28 pm. Asian shares tanked on Friday while the Dow Jones ended in the red overnight. Heavy lenders HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank will announce June-quarter results on Saturday. 

Gainers & Losers 

Jio Financial Services was the top gainer in the Sensex pack, rising 3.47 percent to an LTP of Rs 243.82 from the previous close of Rs 235.65. HCL Technologies jumped 2.52 percent to Rs 1,205 from Rs 1,187.40. Kotak Mahindra Bank was up 2.42 percent at Rs 385.60 against Rs 377.15. TCS rose 2.29 percent to Rs 2,251.50 from Rs 2,201. Tech Mahindra gained 2 percent to Rs 1,540.50 against Rs 1,510.30. 

Wipro led losses among Sensex stocks with a 1.54 percent drop to Rs 175.01 from Rs 177.74. Dr Reddy’s followed, falling 1.15 percent to Rs 1,210.30 from Rs 1,224.40. Cipla declined 0.9 percent to Rs 1,416.70 versus Rs 1,429.50. Hindalco lost 0.89 percent to Rs 950.75 from Rs 959.30. Max Healthcare declined 0.84 percent to Rs 1,089 against Rs 1,098.20. Among sectoral indices, Nifty Private Bank index rose 1.36 percent, Nifty IT index was up 1.31 percent and Nifty Realty gained 0.85 percent. Nifty Pharma dropped 1.50 percent, Nifty Healthcare slipped 1.29 percent and Nifty Media declined 1.02 percent. 

Broad Markets 

The Nifty Bank index advanced 0.86 percent, the Nifty 100 rose 0.62 percent and the Nifty 200 added 0.37 percent. The Nifty Smallcap 100 declined 0.97 percent, the Nifty Midcap Select index fell 0.72 percent and the Nifty Midcap 100 lost 0.64 percent. 

Asian markets witnessed broad-based selling with Japan’s Nikkei 225 diving over 4 percent, Hong Kong’s Hang Seng losing almost 0.9 percent and China’s Shanghai Composite slipping 0.89 percent. “Investors are likely to trade cautiously with eyes on rising geopolitical risks and their implications for crude supply,” said Binod Modi, Head-Strategy at Reliance Securities. Markets in Pakistan and Indonesia were closed for holidays. Pakistan’s KSE 100 index and Indonesia’s Jakarta Composite bucked the trend with marginal gains. 

The Dow Jones ended 0.20 percent lower and the S&P 500 shed 0.51 percent while the Nasdaq fell 1.47 percent as investors took fright at rising tensions in the Gulf overnight. The NYSE Composite bucked the trend, rising 0.33 percent. Stocks declined across Europe. 

Oil Prices 

Oil prices rose further with Brent crude futures trading around 1.25 percent higher at 85.28 dollars per barrel. US West Texas Intermediate (WTI) crude futures climbed 1.3 percent to 79.98 dollars per barrel. Both benchmarks surged more than 11 percent each this week, Brent headed for a third weekly gain while WTI is set for its second straight weekly gain. 

Crude rallied on Thursday after Tehran announced the end of its interim ceasefire with Washington. Tensions returned to the Strait of Hormuz, through which nearly a fifth of the world’s oil shipments passes daily. International Energy Agency warned of “mounting concerns about oil market security looking ahead.” 

Iran War 

Iran ended a one-month ceasefire against US forces in Iraq and moved to escalate its attacks in the Gulf on Thursday after talks failed to avert fresh tit-for-tat strikes between Washington and Tehran. 

The Middle East conflict showed few signs of abating with Washington and Tehran exchanging tit-for-tat attacks for the sixth consecutive day. Iran ended its informal ceasefire against US forces in Iraq and vowed to increase attacks across the Gulf last week after talks failed to prevent the latest bout of strikes from both sides.
Washington has reinstated a blockade of Iranian ports and revoked an oil-export waiver, even as Trump has spoken of expanding targets to energy plants and a fortified nuclear-linked site. Analysts see neither side close to a durable de-escalation. 

Morning Session 

Indian benchmarks had opened sharply higher on Friday on a healthy start to the June-quarter earnings season, even as investors weighed escalating Middle East tensions. Crude prices spiked at the open on news that Tehran had broken its ceasefire with Washington, briefly nudging indices into the red before losses were erased by 9.30 am. The Sensex was trading up 482.04 points, or 0.62 percent, at 77,668.91 as of 9:26 am, while the Nifty 50 was higher by 129.10 points, or 0.54 percent, at 24,201.85. 

Sources:

• bseindia.com
• nseindia.com
• https://www.reuters.com/world/middle-east/trump-threatens-new-iran-escalation-risks-repeating-old-mistakes-2026-07-16/
• https://www.reuters.com/markets/stocks/asia-pacific/
• https://www.reuters.com/business/energy/oil-rises-intensifying-us-iran-hostilities-threat-red-sea-closure-2026-07-17/